Abbey Real Estate Cambridgeshire Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12260582 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Abbey Real Estate Cambridgeshire Limited

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

8

Directors:

D C Sutton

Ms T Salisbury

M Hildred

Registered office:

1 Oak Court, Willow Road

The Lakes Business Park

Fenstanton

Huntingdon

Cambridgeshire

PE28 9RE

Registered number:

12260582 (England and Wales)

Accountants:

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Abbey Real Estate Cambridgeshire Limited for the year ended 31 December 2024 which comprise the Income statement, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Abbey Real Estate Cambridgeshire Limited, as a body, in accordance with the terms of our engagement letter dated 3 March 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Abbey Real Estate Cambridgeshire Limited and state those matters that we have agreed to state to the Board of Directors of Abbey Real Estate Cambridgeshire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey Real Estate Cambridgeshire Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Abbey Real Estate Cambridgeshire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abbey Real Estate Cambridgeshire Limited. You consider that Abbey Real Estate Cambridgeshire Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Abbey Real Estate Cambridgeshire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

29 August 2025

Fixed assets

Tangible assets

5

2,988,012

3,071,381

Investment property

6

24,472,073

26,591,833

27,460,085

29,663,214

Current assets

Debtors

7

268,314

1,407,747

Cash at bank

351,417

616,950

619,731

2,024,697

Creditors

Amounts falling due within one year

8

21,482,012

26,217,511

Net current liabilities

(20,862,281

)

(24,192,814

)

Total assets less current liabilities

6,597,804

5,470,400

Provisions for liabilities

838,461

1,111,990

Net assets

5,759,343

4,358,410

Capital and reserves

Called up share capital

10

100

Retained earnings

5,759,243

4,358,310

Shareholders' funds

5,759,343

4,358,410

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

D C Sutton - Director

1.	Statutory information

Abbey Real Estate Cambridgeshire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from property rental is recognised on a straight line basis over the period of the lease.

Revenue from holiday letting is recognised in the period in which the letting occurs.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings - 100 years straight line

Wind turbines - 20 years straight line

Plant and Equipment - 4 years straight line

Fixtures and fittings - 5 years straight line

The gain or loss arising on he disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

5.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

Cost

At 1 January 2024

2,410,284

917,322

3,327,606

Additions

-

1,380

At 31 December 2024

2,410,284

918,702

3,328,986

Depreciation

At 1 January 2024

83,323

172,902

256,225

Charge for year

22,080

62,669

84,749

At 31 December 2024

105,403

235,571

340,974

Net book value

At 31 December 2024

2,304,881

683,131

2,988,012

At 31 December 2023

2,326,961

744,420

3,071,381

6.	Investment property

Total

£

Fair value

At 1 January 2024

26,591,833

Disposals

(2,119,760

)

At 31 December 2024

24,472,073

Net book value

At 31 December 2024

24,472,073

At 31 December 2023

26,591,833

Investment property comprises various commercial and residential properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Investment properties have been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

7.

Debtors: amounts falling due within one year

2024

2023

£

Trade debtors

126,378

51,866

Amounts owed by group undertakings

-

846,776

Other debtors

141,936

509,105

268,314

1,407,747

8.

Creditors: amounts falling due within one year

2024

2023

£

Bank loans and overdrafts

14,938,882

17,584,600

Trade creditors

5,568

46,841

Amounts owed to group undertakings

6,243,835

8,054,290

Taxation and social security

52,630

167,056

Other creditors

241,097

364,724

21,482,012

26,217,511

9.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

Bank loans

14,938,882

17,584,600

Bank loans and overdrafts are secured against tangible fixed assets and investment property.

The company has loan facilities with Barclays Bank PLC. These facilities are secured by fixed and floating charges granted over the assets of this company together with other group companies.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

1

100

11.	Related party disclosures

As at 31 December 2024, Abbey Real Estate Cambridgeshire Ltd was due an amount totalling £6,243,835 (2023: £7,207,514) from group undertakings.

12.	Ultimate controlling party

The controlling party is The Abbey Group CambridgeshireLimited.

The registered office address is 1 Oak Court, Willow Road, The Lakes Business Park, Fenstanton, Huntingdon, Cambridgeshire, PE28 9RE.